A CARMA report produced on chief executives of the most valuable Singaporean brands
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OCTOBER 2019
A CARMA report produced on
chief executives of the most
valuable Singaporean brands
Communication Performance
Analysis
Analysis Scope
June 1 – August 31, 2019
*Based on the Singapore 100, 2019 Brand Finance Report
Relevancy: All articles contain major mentions of the CEO and respective brand.
The most valuable brands and their CEO’s were identified based on the sheer volume of media coverage specifically quoting the CEO in relation to the brand.
Articles with passing mentions are excluded. Leading CEO’s qualitatively researched were for the following top 15 outstanding brands – UOL, ST Engineering, DBS, BreadTalk, ComfortDelGro, SingTel, SPH,Scoot,
UOB, OCBC, Genting, Wilmar, Starhub, Changi Airport and SGX.
Article timeframe: 1 June – 31st August, 2019.
Markets included in qualitative analysis of Singapore only
Media lists: Print + online tier 1 media. Coverage sourced from the media with the highest readership. Source CARMA Insight media portal.
E X E C U T I V E S U M M A R Y
DBS chief executive, Piyush Gupta, shines as the most prominent CEO in the media
For CARMA methodology explanation, please refer to the favourability matrix (page 21).
• A total of 601 articles were analysed qualitatively from newspaper, magazine and online
media with specific reference to the brands chief executive. The following brands chief Share of voice – CEO’s
executive was analysed in the media – DBS, Singtel, SPH, UOB, UOL, Wilmar, StarHub, SGX,
Scoot, OCBC, Genting Singapore, ComfortDelGro, Changi Airport Group, ST Engineering,
and BreadTalk. These brands were chosen based on the Singapore 100, 2019 Brand Finance Wilmar
UOL 2% BreadTalk
Report that identified the top 100 most valuable brands. From this list we chose 15 based 4%
Changi Airport
7% 3%
on the sheer volume of articles (newspaper, magazine, and online) that the chief executive
appeared in for the three month analysis period June 1 – August 31, 2019.
UOB ComfortDelGro
10%
• Media quantitative analysis shows that prominent bank DBS chief executive, Piyush Gupta 7%
lead in terms of share of voice for the reporting period (101 mentions), followed by OCBC
chief executive, Samuel N. Tsien (76 mentions) and UOB chief executive, Wee Ee Cheong StarHub
3%
(62 mentions).
DBS
SPH
• The least prominent in the media, based on the parameters of our sample size and 4%
17%
timeframe of reporting were Genting Singapore chief executive, Tan Hee Teck (10
mentions) and Wilmar chief executive, Kuok Khoon Hong (13 mentions).
Singtel
• The most favourable CEO, based on the context of reporting for this time period was ST 8% Genting Singapore
2%
Engineering chief executive, Vincent Chong (65 rating), as a result of positive financial
performance and technological discussions. Followed closely was SGX chief executive, Loh ST Engineering
4%
Boon Chye and ComfortDel Gro chief executive, Yang Ban Seng (63 rating). A commonality OCBC
Scoot 13%
was that these chief executives were instrumental in conveying positive financial 7%
sentiment.
SGX
9%
• Least favourable chief executives included BreadTalk’s, Henry Chu Heng Hwee (51
favourability rating), Genting Singapore’s, Tan Hee Teck (51 rating), and SPH’s, Ng Yat
Chung (51 rating).
A CARMA Report on Key Brand CEO’s in Singapore 2Q U A N T I TAT I V E TA K E — V O L U M E
DBS, Piyush Gupta, OCBC, Samuel N. Tsien and UOB, Wee Ee
Cheong lead in media prominence
120
Volume
601 articles
100
80
Number of Articles
Leading Brand 60
CEO
DBS
Piyush Gupta 40
20
Most Favourable
ST Engineering 0
CEO
Vincent Chong
Volume
A CARMA Report on Key Brand CEO’s in Singapore 3C E O O V E R V I E W
Media coverage of brand CEO mentions
June 1 – August 31, 2019
120 80
70
100
60
80
Favourability
Number of Articles
50
60 40
30
40
20
20
10
0 0
Volume Favourability
A CARMA Report on Key Brand CEO’s in Singapore 4C E O O V E R V I E W
Media coverage of brand CEO mentions
June 1 – August 31, 2019
Chief executives leading by volume Chief executives with the highest favourability Chief executives with the lowest favourability
• DBS chief executive, Piyush Gupta (101 articles)
• Based on our sample media analysis • Least favourable chief executives reported by the
was reported to be the most prominent in the
reporting, STE’s President and CEO, Mr media were BreadTalk Group’s group CEO, Henry
media discussing buoyant company financial
Vincent Chong was seen to be the most Chu (51 favourability rating). Much of the media
performances, while also vocalising heightened
favourable chief executive reported in the attention highlighted that their disappointing
economic uncertainty and geopolitical tensions
media (65 rating) as positive reports bottom line was attributed to an increase in the
within the industry.
emerged of net profit increasing and record- group’s distribution and selling expenses.
• Second was OCBC chief executive, Samuel high orders creating favourable visibility of Unfavourably reporting indicated that Henry Chu’s
Tsien (76 articles) who discussed his plans to the group’s revenue. Mr Chong also resignation may have come at a bad time as
expand OCBC’s presence in China’s Greater Bay positioned STE at the forefront of high-tech, BreadTalk’s performance results were lacklustre.
Area, and initiatives to weigh a bid for Standard while developing home-grown technology
• Genting Singapore chief executive, Tan He Teck (51
Chartered Indonesian bank. and inviting foreign companies to trial their
rating) struggled with unfavourable media attention
own.
• UOB chief executive officer, Wee Ee Cheong relating to net profit decreases as a result of fewer
(62 mentions) was the third highest and was • SGX chief executive, Loh Boon Chye and visitors from core markets such as China coupled
quoted favourably on UOB’s plans to deepen ComfortDelGro chief executive, Yang Ban with increased geopolitical tensions and global
its presence in Vietnam with the opening of its Seng followed, both achieving a 63 rating. economic uncertainty.
Hanoi branch. Other coverage related to UOB
• Yang Ban Seng successfully positioned • SPH chief executive Ng Yat Chung (51 rating),
entering into a joint venture that would help
ComfortDelGro at the forefront of received unfavourable media attention as SPH was
deepen the bank’s presence in China. The
technology, with its preparations for the deemed as the worst performer on the MSCI
foreign expansion discussion was widespread
introduction of artificial intelligence. He also Singapore Index as its shares stood at a quarter-
as Wee Ee Cheong highlighted its outward
communicated on its strategic investments century low.
looking expansions abroad.
aside from its core passenger transport,
providing venture capital in mobility
A CARMA Report on Key Brand CEO’s in Singapore technology and ancillary companies. 5D B S — C H I E F E X E C U T I V E , P I Y U S H G U P TA
Piyush Gupta positioned as prominent and
authoritative in the media
CEO benchmark: share of voice • DBS chief executive, Piyush Gupta, was prominent in the
Leading Issues reported on: volume of articles
media (101 articles, 60 favourability) as a key
Competitor 30 2% 2%
authoritative spokesperson on issues including Hong
3% DBS
3% SGX
Kong’s political unrest and uncertainties in the market.
Digital technology 12
OCBC He was also transparent and regularly communicating to
17%
CEO salary 16 4% Singtel the media on profit margin, share price and growth
Growth 13 4% ComfortDelPro factors.
4% UOB
Investment 14 9%
Scoot • He was praised for being instrumental in driving DBS to
Performance 20 7% UOL
SPH
be named the world’s best bank according to
Revenue 22 7% 13% ST Engineering Euromoney.
Marketshare 30 BreadTalk
10% Changi Airport • Negative sentiment stemmed from reporting of Piyush
8%
7% StarHub Gupta’s substantial salary of $11.9 million in 2018.
Volume Wilmar
Genting Singapore • Much discussion focused on DBS’s positive financial
results. Record half-year performances were achieved
Leading Media Reach (volume) despite heightened economic uncertainty and
geopolitical tensions. The media indicated that
performance reflected the strengths of an entrenched
MSN 6
broad-based franchise that is well placed to nimbly
Yahoo Finance 10 navigate market volatility and capture opportunities as
The Edge 12
they arise. As noted in the Leading Issues chart was that
competition, market share and revenue took centre
Strait Times 16 stage in DBS’s media attention.
Business Times 17 • The media did also report that DBS may face some near-
0 50
term challenges due to the anticipated narrowing of net
interest margins and uncertain macroeconomic
conditions. Nevertheless, the bank has a solid track
A CARMA Report on Key Brand CEO’s in Singapore 6
record of maintaining a profit even amid difficult
conditions.O C B C — C H I E F E X E C U T I V E S A M U E L N .T S I E N
Favourable reports on plans to expand in China
Leading Issues reported on: volume of articles • OCBC chief executive, Samuel Tsien was articulate (76
CEO benchmark: share of voice
articles, 61 favourability rating) in discussing his plans to
Technology 13 expand OCBC’s presence in China.
2% 2% DBS
Digital technology 12 3% • The media reported favourably on initiatives to weigh a bid
3% SGX
Marketshare 30 OCBC for Standard Chartered Indonesian bank, a move that may
17% Singtel
Growth 40 4% create the country’s fifth-largest lender. The media
4% ComfortDelPro
Investment 18 discussed OCBC considering an offer for almost 90% of Bank
4% UOB
9% Scoot Permata, which has a market value of about $1.9 billion.
Performance 30
7% UOL
Profit 16 SPH
• Samuel Tsien also appeared in reference to increasing the
Capital 21 7% 13% ST Engineering bank’s 20% ownership of China’s Bank of Ningbo Co once
BreadTalk regulators allow foreign banks to hold a larger stake in local
10% 8%
7% Changi Airport lenders.
Volume StarHub
Wilmar • Despite the ongoing protests in Hong Kong, Samuel Tsien
Genting Singapore was reported to be pushing ahead with its plans to grow in
China’s Greater Bay Area. He cited a $1 billion in profit by
Leading Media Reach (volume) 2023 – for the Greater Bay Area, which comprises 11 cities,
including Hong Kong.
Yahoo Finance 4
• On a positive note, Q2 2019 earnings and its business was
Motley Fool 4 said to be firing on all cylinders. The bank showed
The Edge 11
improvement in almost all its divisions (except insurance)
and demonstrated its ability to grow both top and bottom
Strait Times 16 lines across a variety of functions. That said, macroeconomic
Business Times 25
risks continue to dampen sentiments and create
uncertainties for future growth, and investors need to be
0 50 mindful of this.
A CARMA Report on Key Brand CEO’s in Singapore 7UOB — CHIEF EXECUTIVE, WEE EE CHEONG
Wee Ee Cheong deepens its presence of UOB in Vietnam
Leading Issues reported on: volume of articles CEO benchmark: share of voice
• UOB chief executive officer, Wee Ee Cheong (62 mentions,
61 favourability rating) was quoted favourably on UOB’s
Competitor 30 plans to deepen its presence in Vietnam with the opening
2% 2% DBS
3% of its Hanoi branch. The expansion comes a year after the
Investment 13 3% SGX
OCBC incorporation of UOB’s fully owned subsidiary in Vietnam,
CEO salary 11 17%
4% Singtel reflecting the bank’s commitment to provide its financial
Revenue 22 4% ComfortDelPro services and solutions to more customers across the
4% UOB
Profit 17 9%
7% country.
Scoot
Digital technology 23 7% UOL • Wee Ee Cheong perpetuated that the new branch reflects
SPH
Marketshare 21 UOB’s continued confidence in the country as they seek to
7% 13% ST Engineering
Techology 31 BreadTalk serve more customers in both the northern and southern
10% 8% Changi Airport parts of Vietnam.
7% StarHub
Volume
Wilmar • Favourable media reporting discussed UOB entering into a
Genting Singapore joint venture that would help deepen the bank’s presence
in China. UOB and Shenergy (Group) Company will take
Leading Media Reach (volume) 19.9% and 80.1% respective stakes in the newly setup JV
called Shenergy Consumer Finance Co. The foreign
Asian Banking & Finance 2 expansion discussion was widespread as Wee Ee Cheong
highlighted its outward looking expansions abroad.
Yahoo Finance 7
• As highlighted in the Leading Issues chart competition and
The Edge 10
new technology were the key identified issues that drove
Strait Times 11 media attention.
Business Times 18
0 50
A CARMA Report on Key Brand CEO’s in Singapore 8SGX — CHIEF EXECUTIVE, LOH BOON CHYE
Loh Boon Chye is working to transform SGX as a multi-
asset stock exchange
Leading Issues reported on: volume of articles CEO benchmark: share of voice
• SGX, helmed by CEO Loh Boon Chye, (56 mentions, 63
rating) was favourably seen by the media as working to
transform SGX into a multi-asset stock exchange. The shift
Competitor 30 3%
2% 2% DBS
3% away from being purely a platform for the trading of
Digital technology 12 SGX
OCBC equities and bonds has helped to diversify SGX’s revenue
17%
CEO salary 16 4% Singtel streams.
4% 7% ComfortDelPro
Growth 13
4% UOB • Loh Boon Chye was prominently positioned in discussions
Investment 14 9%
Scoot of SGX’s stellar set of earnings for FY 2019 as revenue was
Performance 20 7% UOL at a record high of S$909.8 million, while net profit hit an
SPH
Revenue 22 7% 13% ST Engineering 11-year high of S$391.1 million.
Marketshare 30 BreadTalk
10% Changi Airport
• Loh Boon Chye was vocal in mentioning that SGX will be
8%
7% StarHub undertaking bolt-on acquisitions to strengthen its various
Volume Wilmar divisions. A lot of these opportunistic acquisitions already
Genting Singapore took place in FY 2019 (such as Trumid, BidFX, and
Freightos) and are set to continue into FY 2020.
Leading Media Reach (volume) • The media concluded that the future looks bright for the
group as management maintains its razor-sharp focus on
Shenton Wire 3 growing the derivatives division while also conducting
opportunistic acquisitions to boost its capabilities.
Motley Fool 5
Straits Times 9 • The leading publications that quoted SGX and their CEO
included The Business Times, Yahoo Finance and The Strait
Yahoo Finance 10 Times.
Business Times 22
• As highlighted in the Leading Issues chart, market share
0 50 and competition lead in driving media attention.
A CARMA Report on Key Brand CEO’s in Singapore 9UOL — CHIEF EXECUTIVE, LIAM WEE SIN
Liam Wee Sin achieves higher fair-value gains on its
investment properties
Leading Issues reported on: volume of articles • UOL group chief executive, Liam Wee Sin (45 mentions, 60
favourability rating) received favourable coverage as the
Competitor 12 media reported that higher fair-value gains on its
investment properties gave a lift to earnings for UOL
Foreign Investment 11
outweighing lower revenue recognition from its
New technology 31 development projects and higher finance expenses. Net
Revenue 32 profit for the developer and hotel operator shot up 48.1
Profit 22 per cent to $195.4 million from the previous year’s $131.9
Growth 43 million.
Marketshare 31 • Other discussions with a favourable tone was the signing of
Developments 24 a hotel management agreement between Singapore-based
property company UOL Group, with Pan Pacific Hospitality,
CEO benchmark: share of voice
Volume and the public preview of Avenue South Residence.
2% 2% • Other news reported on the board of directors of UOL
3% DBS
Leading Media Reach (volume) 3% SGX Group announcing that Choe Peng Sum will be appointed
17% OCBC CEO of PPHG.
4% Singtel
SQFeed 4
4% ComfortDelPro • The Leading Issues chart highlights that UOL’s growth
Yahoo Finance 7 4% UOB expansion plans, revenue and market share took
7% 9%
Scoot precedent.
The Edge 7 7% UOL
SPH
Strait Times 8 7% 13% ST Engineering
BreadTalk
Business Times 8
10% 8% Changi Airport
7% StarHub
Wilmar
Genting Singapore
A CARMA Report on Key Brand CEO’s in Singapore 10S I N GT E L — C H I E F E X EC UTI V E , C H UA S O C K KO O N G
Chua Sock Koong pushes fledging digital arm, while profit
plunges
Leading Issues reported on: volume of articles CEO benchmark: share of voice
• Group chief executive, Chua Sock Koong, (47 mentions, 53
favourability rating) struggled to refute unfavourable press
Competitor 7 relating to BHARTI Airtel’s continual difficulties in India,
2% 2% DBS
3% where the domestic telcos are engaged in a fierce price
Marketshare 7 3% SGX
OCBC war. This has weighed heavily on the results of Singtel,
Profit 16 17%
4% Singtel which reported its lowest quarterly earnings since 2003.
Partnership 15 4% ComfortDelPro
New technology 19 4% UOB • Singtel’s first quarter net profit plunged by 34.9 per cent to
9%
Scoot S$541.1 million, on the back of a 14.1 per cent drop in
Performance 19 7%
7% UOL share of pre-tax profits from regional associates, including
Digital technology 19 SPH
7% 13% ST Engineering a wider S$162.2 million loss at Airtel. Singtel also took a
CEO performance 12 BreadTalk S$109.2 million one-off loss related to the listing of Airtel’s
10% 8% Changi Airport Africa unit.
7% StarHub
Volume Wilmar • On a more favourable note, Chua Sock Koong
Genting Singapore communicated on Singtel’s fledgling digital life arm, which
comprises advertising, data analytics and streaming units.
Leading Media Reach (volume)
This turned over a growth of 16.5 per cent, to S$301.3
million, and saw its losses shrink.
MSN 2
• Favourable media attention also surrounded Singtel’s
Channel News Asia 3 initiative to bundle NTUC income-provided insurance
coverage into its prepaid phone and remittance services, in
The Edge 6
a move targeted at the large pool of foreign workers and
Strait Times 11 to increase Singtel’s market share.
Business Times 18
0
A CARMA Report on Key Brand CEO’s in Singapore 11SCOOT — CHIEF EXECUTIVE, LEE LIK HSIN
Lee Lik Hsin to launch fuel efficient Airbus 321neo
aircrafts
Leading Issues reported on: volume of articles CEO benchmark: share of voice
• Scoot's chief executive officer, Lee Lik Hsin (41 mentions,
59 favourability rating), was favourable in the media as he
Competitor 30
informed Scoot customers can look forward to 16 new
2% 2% DBS
3% Airbus 321neo aircrafts. The media reported that the A-
3% SGX
Digital technology 12
OCBC 321neos are more fuel-efficient per seat than Scoot’s
CEO salary 16 17%
4% Singtel current single-aisle aircraft. Lee Lik Hsin was vocal
Growth 13 4% ComfortDelPro informing in the media that this will put Scoot in a much
4% UOB
Investment 14 9% stronger competitive position.
Scoot
Performance 20 7% 7% UOL • Unfavourable media attention stemmed from Mr Lee’s
SPH
Revenue 22
7% 13% ST Engineering comments that Scoot reported an operating loss of $15
Marketshare 30 BreadTalk million, the first after three years of profits. Despite the
10% 8% Changi Airport slowdown after two good years in 2016 and 2017, it is not
7% StarHub
Volume
all doom and gloom. Mr Lee said: “It’s cyclical, so we
Wilmar
Genting Singapore expect the current situation to eventually reverse. Either
the market catches up (and demand picks up), or some of
the airlines pull back a little.”
Leading Media Reach (volume)
• Other press of a favourable nature stated that Scoot flights
will take off from Changi Airport Terminal 1 instead of
Business Times 2 Terminal 2 a move to encourage more customers to use
Yahoo Finance 4 the expanded self-service facilities, to enjoy a quicker and
more seamless check-in process.
MSN 4
• Mr Lee also admitted that flight disruptions have indeed
Strait Times 8
affected the airline’s key On-Time Performance (OTP)
Channel News Asia 8 metric. The media reported on customers complaints
about Scoot not providing enough information about the
0
delayed flights and disruptions.
A CARMA Report on Key Brand CEO’s in Singapore 12C O M F O R T D E L G R O — C H I E F E X E C U T I V E , YA N G B A N S E N G
Yang Ban Seng leads in artificial intelligence and venture
capital in mobility technology
Leading Issues reported on: volume of articles CEO benchmark: share of voice
• ComfortDelGro chief executive, Yang Ban Seng (42
mentions, 63 favourability rating) media presence
Profit 12 positioned ComfortDelGro at the forefront of technology,
2% 2% DBS
3% with the testing of the NUSmart autonomous shuttle
Market share 22 3% SGX
OCBC service. Media reported favourably on its preparations for
Investment 13 4%
17%
the future where artificial intelligence becomes an integral
Singtel
Growth 33 4% ComfortDelPro part of our daily commute.
4% UOB
Global 18 9%
Scoot • Yang Ban Seng was also vocal in communicating on its
Finance 18 7%
7% UOL strategic investments aside from its core passenger
SPH
Competitor 10 transport, providing venture capital in mobility technology
7% 13% ST Engineering
Property 9 BreadTalk and ancillary companies, such as Haulio, a logistics tech
0
10% 8% Changi Airport start-up. Such articles provided a favourable sentiment.
7% StarHub
Volume
Wilmar • The most media coverage was generated in The Straits
Genting Singapore Times, followed by The Business Times and Yahoo Finance.
• Leading issues discussed in the media were growth,
Leading Media Reach (volume) market share, global expansion and financial performance.
Channel News Asia 2
Edge 3
Yahoo Finance 6
Business Times 9
Straits Times 14
0
A CARMA Report on Key Brand CEO’s in Singapore 13S P H — C H I E F E X E C U T I V E , N G YAT C H U N G
Ng Yat Chung at the helm of transforming SPH
into the digital age
Leading Issues reported on: volume of articles CEO benchmark: share of voice
• SPH chief executive, Ng Yat Chung (26 mentions, 51 rating)
was positioned at the helm of a company that is well on its
Transparency 7 way to transforming itself from a newspaper company into
2% 2% DBS
3% a leading media organisation in the digital age.
New technology 16 3% SGX
OCBC • The media reported on the inaugural SPH Tech Day as Ng
Market share 17 4%
17%
Singtel
Management 7 4% ComfortDelPro Yat Chung presented how SPH has tapped into various tech
4% UOB innovations to transform its newsrooms.
Investment 6 9%
Scoot
Growth 18 7%
7% UOL • Unfavourable press was also prominent in the media as
Performance 16 SPH SPH was deemed as the worst performer on the MSCI
7% 13% ST Engineering Singapore Index, as its shares stood at a quarter-century
Digital technology 7 BreadTalk
10% Changi Airport
low, following its attempt to diversify into real estate did
8%
7% StarHub not provide positive results forcing the company to offset
Volume
Wilmar sinking earnings from its media business.
Genting Singapore
• The key media outlets were Business Times, followed by
The Straits Times and The Edge.
Leading Media Reach (volume) • The most prominent issues discussed were growth, market
share, new technology, and financial performance.
MSN 6
Yahoo Finance 10
The Edge 12
Strait Times 16
Business Times 17
0
A CARMA Report on Key Brand CEO’s in Singapore 14ST ENGINEERING — CHIEF EXECUTIVE, VINCENT CHONG
Vincent Chong leads the way in record high profits
and acquisitions
Leading Issues reported on: volume of articles CEO benchmark: share of voice
• STE’s President and CEO, Mr Vincent Chong (24 mentions,
65 favourability rating) was predominantly favourable in
Staff 7 the media as positive reports emerged of net profit
2% 2% DBS
3% increasing by 18% year-on-year to S$138.2 million. The
Profit 12 3% SGX
OCBC group reported a record-high order book of S$15.6 billion
Partnerships 11 17%
4% Singtel which is great news for investors who worry about the
New technology 15 4% ComfortDelPro visibility of the group’s revenue. Mr Chong created
4% UOB
Management 7 9% assurance for revenue to be recognised over the next few
Scoot
Global Expansion 8 7%
7% UOL years.
SPH
Performance 8
7% 13% ST Engineering • Other visible favourable press stemmed from STE’s largest
Digital technology 8 BreadTalk acquisition of MRA Systems, LLC and its aim to boost the
10% 8% Changi Airport aerospace division’s capabilities and vastly expand STE’s
0 7% StarHub network of facilities in the US to support its widening
Volume Wilmar
Genting Singapore customer base.
• Mr Chong also received favourable press relating to the
Leading Media Reach (volume)
public trial of driverless buses that can be booked with an
app, part of its ambitions to roll out autonomous vehicles
across the city-state. This positioned STE at the forefront of
Yahoo Finance 2
high-tech, while developing home-grown technology and
Water & Waste 2 inviting foreign companies to trial their own.
The Edge 4
Strait Times 6
Business Times 6
0
A CARMA Report on Key Brand CEO’s in Singapore 15B R E A D TA L K — C H I E F E X E C U T I V E , H E N R Y C H U H E N G H W E E
Henry Chu steps down as CEO
Leading Issues reported on: volume of articles CEO benchmark: share of voice
• The media reported prominently on BreadTalk Group’s
group CEO, Henry Chu Heng Hwee (25 articles, 51
Competitor 5 favourability rating) announcing his resignation citing
2% 2% DBS
3%
3% personal and health reasons. Unfavourably reporting
Global 4 SGX
OCBC
indicated that Henry Chu’s resignation may have come at a
Partnerships 5 4%
17%
bad time as BreadTalk’s performance results were
Singtel
Growth 8 4% ComfortDelPro lacklustre.
4% UOB
Investment 7 9%
Scoot • The media reported that decreased earnings resulted from
Market share 6 7% 7% UOL losses at its bakery operations and higher than anticipated
Financial 17 SPH
13% ST Engineering
start-up costs. The bakery division incurred losses of $1.9
7%
CEO Performance 16 BreadTalk million due to the consolidation of its loss-making Thailand
10% 8% Changi Airport bakery business, and the persistently weak China
7% StarHub
Volume operations.
Wilmar
Genting Singapore • Much of the media attention highlighted that the
disappointing bottom line was attributed to an increase in
Leading Media Reach (volume)
the group’s distribution and selling expenses. Analysts
stated that they were keeping a neutral stance on
BreadTalk.
New Paper 2
Shenton Wire 2
Yahoo Finance 3
SGSME 3
Business Times 11
0
A CARMA Report on Key Brand CEO’s in Singapore 16CHANGI AIRPORT GROUP — CHIEF EXECUTIVE, LEE SEOW HIANG
Lee Seow Hiang praised for his proficiency in
managing an asset-heavy business
Leading Issues reported on: volume of articles CEO benchmark: share of voice
• CAG chief executive, Lee Seow Hiang (17 mentions, 61
rating) was praised for managing an asset-heavy business,
Revenue 11
and his proficiency to respond and innovate in a rapidly
2% 2% DBS
3% changing aviation environment. Favourable press also
3% SGX
New technology 12
OCBC stemmed from the construction of Jewel seen as a ‘game
17%
Investment 16 4% Singtel changer’ for airports. In addition to the pivotal role he
4% ComfortDelPro
Growth 6 played in creating a stronger Singapore air hub, allowing
4% UOB
Marketshare 5 9%
Scoot Singapore to be more attractive as a business centre and
Performance 12 7% 7% UOL tourist destination.
SPH
Property 22 7% 13% ST Engineering • The media also spoke about Lee Seow Hiang receiving the
BreadTalk highly acclaimed SAF scholarship, an elitist accolade also
Profit 5 10% 8% Changi Airport
7% StarHub received by the Prime Minister, Lee Hsien Loong.
0
Volume Wilmar
Genting Singapore
Leading Media Reach (volume)
Global Business Press 1
Today Online 1
Channel News Asia 1
SQ Feed 2
Straits Times 8
0
A CARMA Report on Key Brand CEO’s in Singapore 17S TA R H U B — C H I E F E X E C U T I V E , P E T E R K A L I A R O P O U L O S
Peter Kaliaropoulos vocal in drive to transform
operation and cost-optimisation
Leading Issues reported on: volume of articles CEO benchmark: share of voice
• Chief executive, Peter Kaliaropoulos (16 mentions, 52
favourability rating) created positive sentiment in the
Competitor 30
media considering the media reported on StarHub’s
2% 2% DBS
3% earnings falling and weaker operating profits and higher
3% SGX
New technology 12
OCBC finance costs.
17%
Trade agreements 16 4% Singtel
Growth 8 4% ComfortDelPro • The media indicated that revenue slid in all three core
4%
9%
UOB service segments of mobile, pay-TV and broadband.
Investment 12 Scoot
Otherwise, the enterprise business posted a rise in
Performance 11 7% 7% UOL
SPH turnover on contributions from cyber security services,
Revenue 13 7% 13% ST Engineering which more than made up for a slip in network solutions
BreadTalk income.
Marketshare 16 10% 8% Changi Airport
7%
0 StarHub • Mr Kaliaropoulos was vocal in articulating the continued
Wilmar
Volume Genting Singapore drive to transform their operations and ensure cost-
optimisation initiatives through the growth of new digital
services, including their Giga mobile brand and our cyber
security initiatives.
Leading Media Reach (volume)
• Unfavourable press stemmed from Mr Kaliaropoulos’s cost
MSN 2 cutting in staff headcount which was reported on.
Yahoo Finance 7
The Edge 10
Strait Times 11
Business Times 18
0
A CARMA Report on Key Brand CEO’s in Singapore 18WILMAR — CHIEF EXECUTIVE, KUOK KHOON HONG
Kuok Khoon Hong bullish on long term prospects in China
Leading Issues reported on: volume of articles CEO benchmark: share of voice
• Wilmar's chairman and CEO, Kuok Khoon Hong (13
mentions, 55 favourability rating) received coverage
Competitor 6 relating to Wilmar’s plans to build new plants as part of a
2% 2% DBS
3% project to construct integrated manufacturing complexes
3% SGX
Expansion 5
OCBC in the country. The media reported the group is bullish on
Management 8 17%
4% Singtel the long-term prospects for China and is confident that
4% ComfortDelPro
Growth 7 animal meal demand will eventually recover. He was vocal
4% UOB
Investment 7 9%
Scoot in reiterating that Wilmar is well positioned to capture
Performance 5 7% 7% UOL growth in both traditional Chinese bakery products, and
SPH western-style baked products, consumer demand for
Revenue 3 7% 13% ST Engineering
BreadTalk
which is expanding rapidly.
Marketshare 14
10% 8% Changi Airport
7% StarHub • The company’s expansion plans neutralised the media
0
Wilmar reports of Wilmar’s plunge in quarterly profits.
Volume Genting Singapore
• Plans to form a 50:50 joint venture with UK-headquartered
food giant Associated British Foods (ABF) to manufacture
Leading Media Reach (volume) and distribute yeast and bakery ingredients in China was
favourably discussed.
The Online Citizen 1
Shenton Wire 2
Straits Times 3
The Edge 3
Business Times 3
0
A CARMA Report on Key Brand CEO’s in Singapore 19G E N T I N G S I N G A P O R E — C H I E F E X E C U T I V E , TA N H E E T E C K
Tan Hee Teck struggles with net profit decreases as a
result of fewer visitors
Leading Issues reported on: volume of articles • Genting Singapore chief executive, Tan He Teck’s media attention
CEO benchmark: share of voice
totalled 10 articles for the reporting period with a neutral 51
rating. Tan He Teck struggled with unfavourable media attention
Performance 6 2% 2% DBS relating to net profit decreases as a result of fewer visitors from
3%
Technology 4 3% SGX core markets such as China, coupled with increased geopolitical
OCBC tensions and global economic uncertainty.
Competitor 7 17%
4% Singtel
Growth 9 4% ComfortDelPro • The larger-than-expected bad debt provision of $81.5 million,
4% UOB which related to debts from nine to 12 months ago, also hit
Investment 7 9%
Scoot
Genting's earnings. Tan He Teck told the media: "For every dollar
Profit 8 7% 7% UOL
SPH of credit we give out, there will be a certain percentage we have to
Revenue 8 7% 13% ST Engineering provide for as bad debt.”
Marketshare 12 BreadTalk
10% Changi Airport • Tan He Tack hit back at the economic sentiment of the core market
8%
0
7% StarHub Genting Singapore operates in. There was concern of the
Wilmar challenging business environment over the next two to three
Volume
Genting Singapore quarters is seen to be further weakening the VIP gaming market.
• Mr Tan also responded favourably to reports that Genting's non-
gaming revenues fell 3 per cent to $153.6 million due to declining
Leading Media Reach (volume) visitor numbers at the Marine Life Park and Aquarium. He noted
plans to rejuvenate their attraction offerings, to attract more
visitors.
MSN 1
• Mr Tan was reported as optimistic that Japan will pass legislation
TTG 1
by the end of year allowing casinos to be set up in the country,
The Edge 1 possibly before the 2020 Olympics in Tokyo. It was noted that
Genting has enough financial resources and is well-placed to bid
Strait Times 1 for this opportunity.
Condo 7
0
A CARMA Report on Key Brand CEO’s in Singapore 20C A R M A F A V O U R A B I L I T Y R A T I N G
0 - 10 Disaster
CARMA ratings run on a scale of 0 to 100, with 0 being the least favourable and
10 - 20 Crisis
This study was conducted using 100 the most favourable. A rating of 50 designates neutral coverage.
CARMA’s media measurement
PLACEMENT OF ARTICLE 20 - 30 Cause for alarm
and analysis methodology,
including the CARMA (Maximum 20 points)
Favourability Rating System. The placement of an article has a significant impact on its favourability rating. The 30 - 40 Significant problem
size and location of an article, whether a company or topic appears in the headline,
The CARMA Favourability and whether a photo or other graphic is present are all factors that affect the
Rating System is based on a depiction of the company or topic. 40 - 48 Problem
predetermined set of criteria
designed to eliminate SOURCES AND MESSAGES IN ARTICLE 48 - 52 Neutral
subjectivity.
(Maximum 20 points)
The depiction of the company may be shaped further by the body of an article. 52 - 60 Positive
In gauging the favourability of an
article, we consider the headline; There are two quantifiable ways this may happen. One is by what sources in the
length and placement of the story are saying about the company. The second is through positive or negative 60 - 70 Strongly positive
story; accompanying photos; messages and characterizations about a company.
number and quality of sources; 70 - 80 Highly positive
positive and negative messages; TONE OF ARTICLE
and the general tone of the (Maximum 10 points)
article. 80 – 90 Outstandingly positive
The last factor to affect the favourability rating is tone. CARMA examines whether
the journalist or media outlet interjected their opinions into the article and how
those opinions reflected upon the company or topic. 90 - 100 Perfect
A CARMA Report on Key Brand CEO’s in Singapore 21CARMA ASIA 10 PETAIN ROAD SINGAPORE 208089 +65 6388 5838 ANDREW.NICHOLLS@CARMA.COM CARMA.COM
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